Huntington Bancshares, Columbus, Ohio, has agreed to acquire TCF Financial, Detroit, in a deal with a market value of about $22 billion. In a $6 billion all-stock merger, the combined companies will be among the top 10 U.S. regional banks with dual headquarters in Detroit and Columbus. The bank will operate under the Huntington name. [Continue]
Compliance Solutions, a Minnesota-based division of Wolters Kluwer, has agreed to buy eOriginal for approximately $281 million in cash. [Continue]
Illinois-based First Mid Bancshares, Inc., will be closing 10 of its 63 branches next year. [Continue]
Greenbush, Minn.-based Border Bank is expanding into North Dakota through its acquisition of Union State Bank, Fargo. [Continue]
North Dakota’s Alerus Financial is beefing up its retirement and health benefits services division by acquiring Retirement Planning Services, Inc., Littleton, Colo. [Continue]
Banks pulled in $51.2 billion in net income during the third quarter, a 10 percent decline from 2019 numbers, but more than double what it was in either of the first two quarters of the year. Average net interest margin, however, fell to historic lows. [Continue]
The Rural Mainstreet Index decreased for the first time since the pandemic began, when April’s measure plunged to a record low 12.1. [Continue]
The state of Wyoming is on the brink of becoming a trailblazer in the world of cryptocurrency now that it has awarded its first special purpose bank charter allowing institutions to receive deposits and serve as custodians of digital assets. The Wyoming Division of Banking granted San Francisco-based Kraken Digital Asset Exchange its first-ever Special Purpose Depository Institution charter on Sep. 16. [Continue]
Credit quality and the deterioration of agricultural loans remain top concerns for ag lenders as the farm economy works through its continuing downturn, according to a recent report. [Continue]
Michigan’s ChoiceOne Bank is opening a loan office in the northeast Detroit metro area this month. [Continue]